No, you’re not imagining it; your grocery bill is going up fast

Inflation is under control, we’re told. The Fed? No worries says Bernanke. The White House? Never heard the word “inflation” before.

But you, me, your neighbors, and anyone who goes shopping at the grocery store these days knows damn well that prices are going through the roof.
And here’s the proof from Reuters:

World food prices are likely to rise for a third successive month in March, and could gain further beyond that, with expensive oil and chronically low stocks of some key grains putting food inflation firmly back on the economic agenda.

Food prices grabbed world policy makers’ attention after hitting record highs in February 2011 and stoking protests connected to the Arab Spring wave of civil unrest in some north Africa and middle eastern countries.

Prices later receded, but an upturn which began in January, initally seen as a pause in the overall downtrend, has persisted.